Polkadot Price Prediction: DOT Pumps 55% In A Week, But Experts Say This Might Be The Best Crypto To Buy Now

The
Polkadot
price
surged
55%
in
the
last
week
and
4%
in
the
last
24
hours
to
trade
at
$9.21
as
of
03:06
a.m.
EST
on
trading
volume
that
plunged
56%
to
$1.9
billion.

Polkadot
Price
Gearing
Up
For
More
Massive
Gains

The

Polkadot
price
is
in
a
strong
upward
trend,
as
evidenced
by
the
sharp
rise
in
price
and
the
steep
slope
of
the
50-day
Simple
moving
average
(SMA).

DOT
price
has
broken
out
of
a
prolonged
consolidation
range
(marked
in
the
white
box)
and
is
now
trading
significantly
above
both
the
50-period
MA
(blue
line
at
$6.67)
and
the
200-period
MA
(red
line
at
$4.96),
according
to
data
from

GeckoTerminal.
This
indicates
bullish
momentum.

The
Relative
Strength
Index
(RSI)
is
close
to
the
overbought
zone
(above
70),
currently
at
69.
This
indicates
strong
buying
momentum
but
also
warns
of
a
potential
pullback
or
consolidation
in
the
near
future.
Historically,
when
RSI
approaches
these
levels,
a
retracement
or
sideways
movement
often
follows
as
buyers
take
profits.

Moreover,
the
MACD
line
(0.7594)
is
above
the
signal
line
(0.7262),
confirming
upward
momentum.
The
histogram
shows
declining
momentum
compared
to
its
recent
peak,
hinting
at
the
possibility
of
slowing
bullish
strength.
However,
this
doesn’t
indicate
a
reversal
yet,
just
a
pause
or
consolidation
phase.

If
buying
continues,
the
bulls
could
target
$10,
which
is
the
psychological
resistance
level
that
could
act
as
a
magnet
for
the
Polkadot
price.

If
the
bears
take
control
of
the
price
of
Polkadot
at
this
level,
the
$8.0
could
act
as
a
minor
support
level
where
buyers
might
step
in
if
the
price
retraces.

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